First you’ve got to know what is bankruptcy. Bankruptcy is not being able to pay back your debts to the creditors. In return of this you liquidate you non-exempt property and give the money to the creditor and also sign a repayment plan. This way creditors get their money back. This happens through a court and under the united states law. The trustee ,creditor and the debtor must follow the law. Bankruptcydebt.com website was developed to provide consultancy to the people of America before they claim bankruptcy. The banking industry is so much complex for a lay man and most of the time people don’t even know that they have become bankrupt. That is why it is always better to take guidance from those who have gone through it or are professionally linked to it. Most of the American are technical bankrupt.

They have taken mortgage on their homes, and then again taken mortgage. They leased their cars and use credit cards. All of this mounts up to a huge monthly debt that has to be returned with interest. But people are still taking out loans knowing that they will have to work 2 shifts to return it. This has become the cost of living in America. The living standards are going up and up. Utility bills are somewhat another headache . In this situation if a person doesn’t realize that he or she is going to become bankrupt in couple of months or a year then what will happen once they are bankrupt? Of course they will have to drop their current living standard. Return the cars to the bank or might have to drop a kid out of college. Bankruptcydebt.com website helps you in evaluating yourself. It tells you whether you are going bankrupt or not. It better to check your statistics before the bankruptcy bomb drops on you without warning and you have to go out on the street.

In all America almost 35% people have one or more debt to collect. The whole reason behind developing bankruptcydebt.com website was to help educate Americans about the options they have right now to reduce the chances of their bankruptcy. There are specifically designed quizzes that can help you analyze whether you are going bankrupt or not . They tell you about all the options you have. How to apply for bankruptcy and in which section. You can shed or your debts and can maintain your current living standard without going bankrupt. It will provide you with the option of bankruptcies that you can apply for in order to get yourself out before its too late. There is lot of water under the bridge for many American fellows these days when it comes to debt collection. They don’t know what they are going to do and how they are going to handle this issue. The only substitute they are left with is to work part time to make ends meet.